Massive tax hike
To the Editor:
In his letter to the editor on Apr. 19, “Two sides of same issue,” Sean Casey’s argument that a progressive income tax would be good for McHenry County residents is unfair and misleading.
Under Illinois law, the individual income tax rate will be a flat 3.75 percent in 2015. Under the progressive tax-hike plan introduced by state Sen. Don Harmon – the same one Mr. Casey advocates for – a higher 4.9 percent applies to income earned after $12,500.
Under Harmon’s proposal, anyone in McHenry County with a taxable income of more than $22,000 will see their overall state tax bill increase. That means a progressive tax would be a massive tax increase on families in McHenry County.
According to Census data, the average family in McHenry County earns about $100,888 a year. A progressive income tax would increase that family’s tax bill by more than $800 next year.
The median family income in McHenry County is 88,370. That family would see their tax bill climb by nearly $700 next year.
Casey and other advocates for higher taxes in Illinois need to get their facts straight. A progressive income tax would be a massive tax hike on middle and working-class families in McHenry County.
Senior Budget and Tax Policy Analyst, Illinois Policy Institute, Chicago